bad debt
Kamlesh Kumar (Article) (26 Points)
08 June 2010
Is there any condition to write off bad debt under Co's act 1956
1 Replies
CA Mukul Mittal
(CA in practice)
(384 Points)
Replied 10 June 2010
as per companies act, debtors are to be classified in two categories:
1. debtors less than six months
2. debtors more than six months
if the company has the full information of debt to be bad, it is recommended by ICAI to write off the amount in P&L a/c....
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